Global LBS and RTLS Market Insights 2020-2025: A $39.19 Billion Opportunity Assessment
DUBLIN, Aug. 26, 2020 /PRNewswire/ -- The "Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market by Component (Platform, Services and Hardware), Location Type (Indoor and Outdoor), Application, Vertical, Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global LBS and RTLS market is expected to grow from USD 17,776 million in 2020 to USD 39,190 million by 2025, at a CAGR of 17.1% during the forecast period.
Various applications of geospatial data to drive the LBS and RTLS market growth
Among regions, Asia Pacific to grow at the highest CAGR during the forecast period
The market in Asia Pacific (APAC)is projected to grow at the highest CAGR during the forecast period, owing to the massive potential for the applications of LBS and RTLS solutions in sectors, such as government, manufacturing, transportation and logistics, and retail. The existence of a large population, developing technology, and high growth in countries, such as China, India, Australia, Japan, Singapore, and Hong Kong are the major contributing factors for the growth of the LBS and RTLS market in the APAC region. Organizations in APAC are focusing on customer interests and preferences. The usage of smartphones and the internet is widely used as a major means of connectivity.
Key Topics Covered
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